Navigating the Money-Status Trade-Off in Digital Writing
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Understanding the Money-Status Dynamic
It took me four years to grasp this challenging reality, but I can share it with you in under six minutes: amassing likes and followers does not necessarily translate to increased income.
At first glance, this statement seems reasonable, yet many writers remain trapped in a cycle of seeking validation through social media engagement, all while neglecting their financial stability. I’ve been in that position myself.
Despite having over 40,000 followers on my social platforms and being recognized as a top 6% earner on Medium, I am far from the financial elite in the digital writing community. While I do earn a decent income, it pales in comparison to those who rake in $20,000+ per month while working just a few hours a day doing similar work.
For the past four years, I allowed my ego to blind me, falling into a repetitive cycle: post, grow, earn little to nothing, and repeat. Sound familiar?
This is the money-status trade-off that ensnares many digital writers. They find themselves swayed by every persuasive figure online claiming to hold the secret to success.
The reality is, you don’t need a massive following to achieve significant earnings online; you just have to clarify your goals. If you seek popularity, financial rewards may elude you. Conversely, if you aim for higher income, your popularity may take a hit. The key is to decide what you want to prioritize.
The Journey of Realization
My full-time writing career began after I was laid off in September 2020. It became less about my writing skill and more about my ability to secure clients. Initially, my focus on writing paid off, but I grew ambitious.
I watched others receive thousands of likes and earn impressive sums, leading me to believe that more likes equated to more money. I quickly altered my content strategy to chase this new belief, resulting in an uptick in followers and engagement, yet my earnings stagnated.
“Perhaps I need to boost my follower count,” I thought. I intensified my efforts, gaining even more followers while my income barely budged. It became clear that most messages in my inbox were not about lucrative opportunities but rather expenses.
“What's happening?” I wondered.
This is the essence of the money-status trade-off: the inverse relationship between income and popularity. Many writers chasing online riches unknowingly gravitate toward status, diminishing their earning potential.
As Ayodeji Awosika aptly puts it, “Many creators suffer from literal dopamine addiction.” The euphoria derived from attention often overshadows their financial logic.
Consequences of Chasing Validation
If you choose to work excessively on content creation while yielding minimal results, fixating on engagement and follower counts will lead to burnout and financial struggles—no matter how many fans you have cheering you on.
Take it from someone who has experienced this firsthand. In July 2022, I hit my worst burnout yet, stepping back from writing on Medium for six months and LinkedIn for two years. At one point, I felt unworthy of sharing my thoughts, knowing my financial situation was not where I wanted it to be. This deeply affected my self-esteem.
A similar scenario unfolded this year. From January to May, I was producing content at an impressive rate. Although my earnings increased slightly, they remained far from the figures of the top earners despite a surge in views and engagement. I had become addicted to attention, where validation was my new currency.
However, that validation did not cover my medical expenses or unexpected costs like a car breakdown.
It's easy to empathize with others in similar situations. We naturally crave acceptance, and what better way to feel validated than through a large audience? Yet, this does not equate to financial success. If your goal is to earn significant money online, you must acknowledge this reality.
Strategies for Financial Success
Maturing as a writer involves recognizing that an extensive following does not guarantee financial success. You can achieve high earnings with just a few thousand followers by understanding this principle.
I've encountered individuals with fewer than 2000 followers earning six figures annually by focusing on impactful, rather than popular, content.
Consider Nicolas Cole, a successful writer who has made millions online. How many people do you think would recognize his name? Probably very few. Now think of well-known authors like Robert Greene or James Clear. Their names are widely recognized, yet they likely had to reach a much larger audience to achieve similar financial results.
Cole understood that he may not have the same level of fame, which is the mindset you need if you want to profit from online writing.
Focus on driving the outcomes you desire by:
- Defining a specific target audience.
- Identifying their challenges.
- Creating content that helps them progress.
- Offering exclusive solutions to expedite their journey.
This is how successful digital writers monetize their efforts. It’s less about attracting a broad audience and more about serving those willing to invest in your expertise.
Thank you for reading!
I believe that thriving in modern business will soon necessitate a Social CEO—it's only a matter of time before this becomes a standard requirement.
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